Canadian Core War


Canadian core war on the Horizon

Horizons ETF, a subsidiary of Koean fund giant Mirae Asset, is listing three new ETFs that give Canadians easy cheap ways to buy US shares, Canadian shares and cash.

  • Horizons Cash Maximizer ETF (HSAV)
  • Horizons US Large Cap Index ETF (HULC)
  • Horizons S&P/TSX Capped Composite Index ETF (HXCN)

HSAV will invest in term deposits from Canadian banks. However it won’t pay out the interest that the term deposits earn. Instead, the interest will be taken on as a capital gain.

HULC is basically an S&P 500 tracker, but with a different cheaper index.

HXCN tracks one of the main gauges of the Canadian share market.

The funds look very similar to those Mirae has listed in Australia of late, under its BetaShares brand. The cash ETF – HSAV – looks virtually identical to the BetaShares product. 


Mitsubishi lists cheap low carbon ETF

Mitsubishi’s ETF provider Maxis is listing a cheap low carbon ETF, in a nice reminder that Japan and not the US is the home of cheap ETFs. The MAXIS Carbon Efficient Japan Equity ETF (2560) will track an index from S&P Global.

It starts the Topix, the main gauge of Japan’s share market, and removes companies with big carbon footprints. Different sectors are held to different standards when judging what counts as a big carbon footprint.  Companies are chosen based on the carbon footprint. But also chosen to ensure that the fund’s sector weights resemble that of the Topix.

The end result is a fund that very closely correlates with the Topix. It charges 0.13%.